Reference no: EM132766879

Problem 1: The records of properties acquired and services availed of by a business are maintained in accordance with the

Option 1: Proprietorship principle

Option 2: Matching principle

Option 3: Cost principle

Option 4: Business entity concept

Problem 2: This principle requires relevant information to form part of financial statements for decision-making purposes.

Option 1: Adequate disclosure

Option 2: Accounting entity

Option 3: Materiality

Option 4: Objectivity